From the world of filmmaking to trading prime properties and redeveloping luxury villas, Sanjeev Vig’s journey is as layered as the homes he now brings to the real estate market. After spending over a decade in cinema—working under top filmmakers before directing projects of his own—his foray into real estate wasn’t a detour, but a deliberate evolution. It was in Dubai that he found the wings to dream bigger, pivot with clarity, and seize an opportunity.
Today, as Founder & Partner of Kingsmark Real Estate and Ascendas Developers, he blends storytelling with strategy—redeveloping villas with purpose and responding to market shifts through strategic trades and land acquisitions, including over AED 300 million secured this quarter alone.
In this exclusive feature, REM TIMES speaks to Sanjeev about his creative shift into real estate, Dubai’s evolving landscape, and why he believes this city remains the true star in the global property narrative.
Q. You began your career in film direction before moving into real estate. How did that evolution come about, and how has it shaped your approach to the business?
I spent over a decade in the film industry—working under top directors and eventually directing my own projects. It taught me how to think creatively, manage teams, meet deadlines, and deliver under pressure. When I began exploring real estate, I saw many of the same principles applied. In film, you build scenes; in real estate, you build spaces that shape lives.
What drew me in was the tangibility. Real estate offers something lasting—a space, a structure, a legacy. But it also demands instinct. The key is knowing when to enter, and when to exit, and being able to spot a great deal in a sea of good ones. Timing and execution matter.
The discipline I learned in films—managing people, staying on schedule, and delivering with intent—translated seamlessly. And today, every villa we redevelop is a composition in itself—a setting for someone’s future memories.
Q. You recently facilitated over AED 300 million in land acquisition deals. What trends are emerging in Dubai’s development landscape, and how do you see this shaping the future of the market?
Yes, this quarter, Kingsmark facilitated over AED 300 million in land acquisitions for development deals. But more than the number, it reflects a broader shift in Dubai’s real estate dynamic. We’re now seeing a trend where land costs are matching—or even surpassing—development costs. For some, that raises concerns about feasibility. But from my perspective, it’s a positive sign. It shows how much value has been created in the market, especially as selling prices have shot up significantly over the past year.
There is limited land left in prime locations, which naturally drives demand and value. What we’re seeing is a more competitive, mature market where investors are willing to pay a premium because they know the long-term returns are there. The fundamentals are strong, and the appetite for luxury developments remains high.
Dubai continues to evolve with clarity and speed. For developers who can read the market, this is an opportunity to move decisively. We’re scaling up our villa redevelopment pipeline to meet that demand—the land is telling us where the momentum is.
Q. With this surge in land activity and high-end development, how have you seen the villa market evolve—and what kind of demand are you now catering to?
What we’re seeing is less about shifting trends and more about Dubai’s larger transformation. The city’s infrastructure, leadership, and global positioning have made it a magnet for serious buyers. Since the pandemic, there’s been a significant increase in demand from Europe—especially the UK and Germany—with many buyers choosing to call Dubai home.
While trading villas for clients, I noticed a clear gap: high demand for modern, ready-to-move-in homes, but limited supply. That’s where redevelopment became our focus—reviving older villas to meet the expectations of today’s end-users.
Dubai’s evolution has created a ripple effect across the market. Our role in the industry is to respond to that demand with homes that reflect both the pace and quality of the city’s growth.
Q. With growing conversations around price trends and the possibility of a market correction, how do you assess Dubai’s current real estate cycle—and where do you see it heading?
Dubai has seen remarkable growth, and with that, rising prices. A correction—say 10 to 20%—wouldn’t be unexpected, and frankly, it’s healthy. It brings balance, sets benchmarks, and reflects market maturity.
That said, the fundamentals remain incredibly strong. Demand is driven by long-term investors and end-users from Europe, Asia, and beyond. The city continues to deliver—on safety, infrastructure, and leadership.
So while short-term adjustments may happen, the bigger picture is clear: Dubai’s trajectory is upward. I see the next two to three years as a period of continued strength, especially for those who are invested in the city’s long-term vision.
Q. With sustained interest in luxury living and evolving buyer expectations, what do you see as the next chapter for Dubai’s residential market—particularly in the villa and townhouse segment?
Dubai’s residential market is entering a strong phase. We’re seeing a new wave of buyers—especially younger investors from Europe, India, and China—who want more than just square footage. They’re looking for homes that reflect their lifestyle, values, and long-term goals.
Villas are in high demand because they offer exactly that—livability, privacy, and long-term value. As Dubai continues to grow, so does the appetite for thoughtfully developed, ready-to-live-in homes. It’s no longer just about luxury—it’s about quality of life. And in that sense, the opportunity in this segment is just beginning.
Q. As someone who has reinvented himself and his career, what keeps you driven in such a fast-paced industry?
There is a line I heard in a movie —“Every day above the ground is a good day.” It stayed with me. I believe if you’re healthy and have the chance to build something meaningful, you keep pushing forward.
Each chapter has taught me something new, and I still feel there’s so much more to do. What truly drives me is being in a city like Dubai. It gives you the freedom to grow, the space to learn, and the platform to evolve. When you work in an environment like this, it doesn’t feel like work—it feels like purpose.
